The Decision-Making Process in a Taiwan Internet Portal for Overseas Initial Public Offering and Being Acquired ─ A Case Study

• Main Authors: Hsuan-Chang Tseng, 曾炫章
• Other Authors: none
• Format: Others
• Language: zh-TW
• Published: 2006
• Online Access: http://ndltd.ncl.edu.tw/handle/41344620856839790795

碩士 === 東吳大學 === 會計學系 === 94 === This article is to study the decision making process in overseas Initial Public Offering (IPO) and being acquired of a Taiwan Internet Portal. First described why chose to compare overseas IPO and being acquired, instead of domestic IPO and overseas IPO; then studied the boom and development of Internet business model. Furthermore, studied the relationship between Internet industry and capital market, Mergers and Acquisitions (M&A) theory, motivation, types and professionals involved. valuation, the major topics in M&A were also included in this study. Other than studying the related topics in M&A, this study also focused on an actual case in Taiwan, which was Yahoo!’s acquisition of Kimo, the No.1 Internet portal in the world acquired that of the No.1 in Taiwan. This case study has arisen from the beginning of Kimo, covering the major development stages including fund raising, spin-off, preparing for IPO in the NASDAQ, fund raising before IPO and being acquired by Yahoo! Especially, the decision making considerations in the last stage, select being acquired by Yahoo! instead of completing the listing process in NASDAQ. Also, followed up the recent development of Yahoo! Kimo in Taiwan and the change of Yahoo’s M&A strategy in Mainland China.